Musk, X Corp Strike Tentative Severance Payout On Ex-Twitter Employees
Elon Musk and X Corp have reached a tentative settlement to resolve a class action by former Twitter employees over unpaid severance tied to the 2022 takeover and mass layoffs. The lawsuit had sought $500 million and was led by ex-employees Courtney McMillan and Ronald Cooper. The workers alleged Twitter’s 2019 severance plan entitled most […]
First US Strategic Minerals Reserve Is Coming: What Minerals Are In Focus
A public-private initiative will establish the first Strategic Minerals Reserve in US, headquartered at the Hawthorne Army Depot in Mineral County, Nevada. Nevada-based critical minerals developer M2i Global and aviation company Volato Group will spearhead the effort, with the Department of Defense, Defense Logistics Agency, and the Department of Energy supporting the project. The design […]
Quebec Liquor Board May Destroy $300K in US Alcohol Over Trump Tariffs
Quebec’s provincial liquor board faces the prospect of destroying $300,000 worth of American alcohol that has been banned from store shelves since March in response to tariffs imposed by President Donald Trump. The Société des alcools du Québec has kept US alcohol purchased before the March 4 boycott in storage, but may be forced to […]
Ford Floats Province Buying Stelco Amid US Tariff Dispute
Ontario Premier Doug Ford suggested Wednesday that the province could purchase steelmaker Stelco from its American owner, after criticizing the company’s CEO for supporting tariffs that penalize Canadian steel exports. Ford made the remarks during a $70 million funding announcement for worker retraining programs in Hamilton, home to Stelco’s operations. The premier criticized Cleveland-Cliffs (NYSE: […]
MEG Energy To Be Acquired By Cenovus At $7.9 Billion Valuation
MEG Energy (TSX: MEG) has officially become the focus of a bidding war. The company this morning indicated that it has entered into an agreement with Cenovus Energy (TSX: CVE) to be acquire in a deal valuing the company at $7.9 billion. The arrangement agreement follows Strathcona Resources (TSX: SCR) earlier this year making a […]
John Deere Announces Mass Layoffs as Trump Tariffs Hit Agricultural Equipment Industry
Agricultural equipment manufacturer John Deere (NYSE: DE) announced layoffs affecting more than 200 workers across three Midwestern facilities this week, citing customer uncertainty over President Donald Trump’s expanding tariff policies as a primary factor in declining sales. The Moline-based company will terminate 115 employees at its East Moline, Illinois facility later this month, followed by […]
FanDuel Meets CME As $1 Event Contracts Target Retail Traders
CME Group and Flutter Entertainment’s gaming platform FanDuel unveiled a joint plan to launch fully funded, event-based contracts that let US retail users take simple “yes/no” positions on equities, gold, oil, crypto, and key economic indicators for as little as $1, multiple times per day. The partners say the initial lineup will span benchmarks like […]
Federal Judge Approves Tesla Class Action Over Self-Driving Claims
Tesla (Nasdaq: TSLA) suffered dual setbacks in California this week as a federal judge allowed drivers to pursue a class-action lawsuit over self-driving promises while state regulators continued blocking the company’s robotaxi expansion plans. US District Judge Rita Lin ruled Tuesday that Tesla drivers can proceed with a certified class action alleging the electric vehicle […]
Canadian Embassy Hired Democratic Operative to Explain GOP Messaging
The Canadian Embassy in Washington paid a consulting firm led by a former top Democratic Party official $2,000 an hour to help diplomats understand American right-wing messaging, according to federal records obtained by Blacklock’s Reporter. The embassy contracted Signal Group, headed by Blake Androff, who previously served as executive director of the House Democratic Policy […]
Bankruptcy Cases Surge to Over 500,000, Highest Since 2010
US bankruptcy courts processed 542,529 cases during the year ending June 30, an 11.5% spike that reflects growing financial strain across the economy and represents a sharp reversal from recent lows, new federal data reveals. The sharp increase signals growing economic distress, as elevated borrowing costs, persistent inflation, and tightening credit force both businesses and […]